As per AS-30,investments are to be classified in 4 heads,among them 2 are FAIR VALUE THROUGH PROFIT & LOSS (FVTPL) Account & AVAILABLE FOR SALE. Definitions of the above said categories are:
FVTPL- Financial assets held for trading and those designated to the category.
AVAILABLE FOR SALE- includes all equity securities other than those classified as at fair value thru income and which do not fall in any other categories.
My question is how to classify a security into above two categories.,I want to know the basis.
CAclubindia
